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India likely to resist US pressure on Iran oil import: Report

New Delhi, India is likely to tell the US that it will not be able to cut oil imports from Iran, an Indian daily reported.

India will likely tell the US that it won't be able to cut oil imports from Iran after sanctions take effect early November, Economic Times reported on Wednesday.

Iran and major world powers the US, Russia, China, UK, France and Germany signed the deal, known officially as the Joint Comprehenive Plan of Action (JCPOA), in 2015, under which Tehran agreed to curb its nuclear program in exchange for some economic sanctions relief.

Washington has pressed its allies to halt oil imports from Iran by November.

The Economic Tiems added that India wants to make it clear that no nation can dictate how its external policy can be run.

The foreign and defense ministers of India and the US are meeting in New Delhi on Thursday under the 2 + 2 dialogue to discuss a range of bilateral, regional and global issues.

India's refineries are heavily dependent on Iran's crude, an official said.

India will also want to discuss alternative sources of oil with a focus on prices. Pricing of oil imports is very important for India as a number of factors such as economic growth and inflationary trends are tied to it, the official said.

India will not cut import of Iranian oil. If there is some import reduction after November 4, that would be purely due to logistics or operation hurdles such as lack of tankers or insurance or reinsurance, another Indian official said.

According to the report, India imports a tenth of its crude oil from Iran and is the biggest buyer of crude from the Islamic Republic after China. There is also the problem of making technical adjustments to refineries if a new form of crude oil is imported as it would require time, effort and resources.

Source: Islamic Republic News Agency - IRNA


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